Product Code: ETC376764 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India household cooking appliance market import shipments exhibited a strong growth trend with a notable CAGR from 2020 to 2024. However, there was a slight deceleration in growth between 2023 and 2024. Overall, the market expansion trend remained robust despite the marginal slowdown in the latest period.
The India household cooking appliance market is estimated to be valued at INR 73,100 crore and expected to grow by 10.4% CAGR during the forecast period. The urban segment is anticipated to witness higher growth than rural due to rising demand for convenience and advanced products from urban households. In terms of volume, gas stoves are expected to remain dominant in India kitchens with an estimated share of 71%. Moreover, electric/induction cooktops are also gaining popularity due to their efficiency, portability and safety features offered by leading brands like Philips, Pigeon etc.
India household cooking appliance market has thrived on the back of urbanization, improving living standards, and a rising preference for modern kitchen equipment. The advent of innovative and energy-efficient cooking appliances has further fueled the market`s expansion.
The household cooking appliance market in India faces specific challenges that can impact its growth and market penetration. One of the significant challenges is the price sensitivity of consumers. Many India households prefer affordable cooking appliances, which can put pressure on manufacturers to offer cost-effective solutions while maintaining quality. The availability and accessibility of electricity and LPG connections in various regions of India can influence the demand for household cooking appliances. In areas with unreliable power supply or limited LPG access, consumers might opt for traditional cooking methods rather than investing in cooking appliances. Furthermore, the rapid pace of technological advancements in cooking appliances can pose a challenge for manufacturers to keep up with the latest trends and incorporate innovative features in their products.
The India household cooking appliance market faced both positive and negative effects during the COVID-19 pandemic. With people staying at home, the demand for cooking appliances increased. However, supply chain disruptions and manufacturing challenges impacted the market`s growth. As economic conditions improve, the market is projected to recover.
For the India household cooking appliance market, major key players include TTK Prestige Limited, Hawkins Cookers Ltd., and Bajaj Electricals Limited.